What Is the Minimum Salary You Can Get After Doing PMP Training
Project managers emphasize mainly on PMP certifications. Those who have completed a PMP Certificate program can expect to earn approximately 20% extra compared to those who have not. Candidates can register and obtain a PMP certification at several colleges.
Furthermore, as some other project managers have stated, this assessment has a tremendous return on investment. However, only 58% of businesses acknowledge the overall significance of project management. This helps give your project management abilities a lot of leeway. Before moving ahead, let’s learn about PMP training and how it helps to get a better salary.
What Do You Mean By PMP Training?
PMP, or Project Management Professional, is a certification offered by the Project Management Institute (PMP). It is a globally recognized project management certification that teaches applicants how to manage people, processes, and various project management strategies. This assists experts in meeting project deadlines and guaranteeing the greatest customer satisfaction.
Assume you desire to be more of a PMP. The project management credential is indeed among the most in-demand worldwide. In such a case, this certification will help you highlight your knowledge and experience, academic credentials, and abilities required to lead working groups and see them through to finalization.
Why Pursue PMP Training?
- Aids in developing managerial skills such as predictive maintenance, project application of principles, and team leadership.
- Assists you in comprehending and practicing various techniques for the project’s requirements.
- PMP certification elevates your professional standing compared to other specialists trying to compete for the same position.
- A PMP certification can substantially increase your potential earnings, thus according to PMI’s questionnaire on earning power.
- If you enumerate your PMP certification on someone’s profile, you might join the 79% of project leaders worldwide who have it.
- If you continue pursuing the PMP certification, visitors will have the chance to interact with 3 million project managers globally.
- Project-intensive industries such as finance, industrial production, fabrication, and IT (Information Technology) are expected to grow by 37%, with 15.7 million new employment opportunities in project management.
How to Get PMP Training?
Earning your Project Management Professional certification takes both time and money. Before participating in the test, you must first fulfill a few requirements. You have two choices based on your project management experience and academic background. If you have a secondary degree (high school diploma, undergrad degree, or globally equivalent), you should indeed obtain the following:
- Project management for 60 months.
- Thirty-five hours of project management research project or Certified Associate in Project Management certification (CAPM).
If you possess a four-year degree, you should always acquire the following:
- Project management for 36 months.
- 35 hours of instruction or certification
PMP Certification Salary
According to PMP certification salary statistical data, this credential is well worth the time and effort of many specialists. Non-certified project leaders in the United States earn an average salary of $93,000, according to PMI. PMPs earn an annual median salary of $123,000, a 32% increment over their non-certified counterparts.
The following factors rationalize this salary increase for PMP certification:
- The PMP certification prepares you to lead a team effectively.
- PMP certification teaches you how to cut project costs while increasing company profits.
- The majority of businesses depend more heavily on project-based timetabling and job scheduling.
- PMP certification can assist you in leading your corporation to a greater return on investment.
PMP Salary as Per Job Title
PMI currently recognizes 870,000 PMP owners worldwide, and the enterprises in which they work and the roles they now hold vary greatly. Salary information gathered by PMI from its representatives and security clearance holders might provide important insights into the earnings you can anticipate after acquiring your PMP certification, depending on your current role.
Professionals with the title and position description of Project Manager III have much more obligations than those with the title Project Manager I, and their average salaries ($112,314 and $89,380) represent this.
|Job Title||Payscale Salary||PMI Salary||Glassdoor Salary|
|Project Management Specialists||$68,957||$90,000||$70,045|
PMP Salary According to Industry
The industry you cooperate in will also influence the salary you could assume as a PMP-qualified professional. Those on the public payroll earn slightly more than $116,000 per year, while employees in the private sector earn $130,402 in the legal business sector and $131,833 in the pharmaceutical companies. Some other noticeable industries’ salary differences for PMP certification holders are as follows:
Across industries, the subsidiary or bureau in which you work will influence your aggregate pay. Those collaborating in an institution’s IT department, for instance, receive an annual salary of $114,447, while employees in R&D earn an annual salary of $120,466.
PMP Salary Increase and Tenure
In most industries and leadership roles, your salary will be directly proportional to your observation and tenure. This is still true for PMP exam holders. The salary of PMP certification holders rises steadily as the years they have held the professional certification increase.
Those with a PMP certification generate salaries that are consistently higher than their quasi peers, and their condition as credentialed professionals adds to these higher wages. In the United States, the median wage for a Professional certification holder with less than five years of experience is $103,000. In contrast, the median salary for those with a minimum of ten years of experience is $130,000.
The additional certification of PMP certification guarantees that you understand what to accomplish during the preceding five phases; this means that the additional certification of PMP helps you function better. PMP certification is challenging, but instructional training can help you get the certification easily.
At the end of the article, we recommend you move further in your PMP® certification because project management principles and processes will adapt to your organization’s environment. Simplilearn online learning offers a program in PMP. For more information, go through our course on the Simplilearn website.